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Lean LaunchPad Coauthor Steve Blank Interviewed
52 segments available
Steve Blank talks to Lang Center Director Professor Murray Low about his entrepreneurial and life experiences.
Segments Timeline
Meet Steve Blank: The Entrepreneurial Journey
In this segment, Professor Murray Low introduces Steve Blank, an eight-time serial entrepreneur and co-author of the Lean Startup methodology. Blank shares his diverse entrepreneurial background, including ventures in the semiconductor industry and military intelligence, and discusses his transition to becoming an entrepreneurship educator after retiring from business.
"welcome everybody what a great turnout I guess you heard that I was moderating they're laughing too hard at that joke okay so it's my great pleasure to have welcome Steve Blank here to Columbia as you..."
Roots of Entrepreneurship: A Family Legacy
Steve Blank reflects on his upbringing in New York, where his immigrant parents ran a grocery store. He discusses how this experience shaped his understanding of entrepreneurship and instilled a strong work ethic, highlighting the influence of his family's small business on his entrepreneurial journey.
"Startup movement has written a couple of books the first book 2003 four steps to the Epiphany most recently last year a book called the startup owners manual with Bob Dorf who's sitting over there is ..."
The Military Experience: A Turning Point
Blank shares his path to the military after struggling in college, revealing how his time in the armed forces provided him with discipline and a unique perspective on work. He discusses the challenges he faced in higher education and how his military experience influenced his later career.
"on a grocery store I actually opened one up on 124th f/8 and 24th Street and ran that for 15 years and my sister and I when we were old enough we'd help them store and took me 30 years to realize that..."
From Military to Silicon Valley: The Accidental Engineer
After leaving the military, Steve Blank recounts his unexpected journey into Silicon Valley. He describes how he transitioned from a field engineer to a training instructor at a tech company, highlighting the serendipitous nature of his career and the excitement of being part of the burgeoning tech scene.
"a built-in nature of what we did and I worked full-time since I was 14 and then when I was in the military that you know you didn't have a choice whether you're working or not so I don't know where I ..."
Discovering the Startup Culture
In this segment, Blank discusses his realization of the vibrant startup culture in Silicon Valley. He contrasts his previous work in national security with the innovative spirit of startups, leading him to embrace entrepreneurship and join the homebrew computer club, which marked the beginning of his entrepreneurial journey.
"disorder and higher education wasn't going to work for at least another 30 years so you got thrown out you didn't quit well I think I was given the choice of quitting before I got thrown out but it do..."
The Shift to Entrepreneurship: A Defining Decision
Steve Blank reflects on a pivotal moment when he decided to leave his secure job in national security to pursue entrepreneurship. He shares how this decision was influenced by the dynamic environment of Silicon Valley and the allure of creating something new and impactful.
"just takes some skill and art to take something complex and make it simplified in a way your mother would understand it especially if English was still not her first language so you've got back from t..."
First Steps in the Startup World
Blank narrates his first job at a startup called Zilog, where he became a training instructor. He humorously recounts how he ended up in leadership roles by accident, showcasing the unpredictable nature of startup life and the rapid pace of change in the tech industry.
"another engineer go out to San Jose beginning of Silicon Valley I mean Silicon Valley been going on for a decade or two but no one had ever heard of it unless you were deeply into the semiconductor bu..."
Navigating the Tech Landscape: Early Lessons
In this segment, Blank discusses his early experiences in the tech industry, including his role in training and education at a leading company. He emphasizes the importance of adaptability and learning on the job, which became foundational to his later success as an entrepreneur.
"by accident actually this is another entrepreneurial story it was with a company called DSL and I'll explain what it stood for electric met electromagnetic systems labs which will make sense in a seco..."
The Evolution of a Teacher: From Engineer to Educator
Steve Blank reflects on his transition from engineering to education, revealing how his early career in training laid the groundwork for his later role as an entrepreneurship educator. He discusses the significance of teaching complex subjects and how his experiences shaped his approach to education.
"engineer and going on site for a couple of these systems and by very big accident this company happened to be the leading company for the phrase used at the time was verifying our it was our national ..."
Learning from Early Failures
Steve Blank shares insights from his early career, including his experience with multiple startups. He emphasizes the importance of learning from failures and how they shaped his understanding of entrepreneurship, leading to his eventual decision to start his own company.
"pretty well that was my first real commercial job so so what was your question Marie well we'll get there so actually education is the long history in the Steve Blank career you know I never really un..."
The Cost of Failure: Rocket Science Games
Steve Blank recounts the story of Rocket Science Games, a video game company he co-founded that ultimately failed. He reflects on the lessons learned from losing $35 million of investors' money and how this experience taught him valuable lessons about customer relationships and the pitfalls of success.
"finally figured out it's better to own one then so tell me about the first one and how you made that decision from basically being part of a team to being like the main guy yeah I think the first one ..."
Understanding Your Customers
In this segment, Steve discusses the critical realization that he disliked his target customers while running Rocket Science Games. He contrasts this with his previous experiences selling to scientists and engineers, emphasizing the importance of enjoying your customer base in entrepreneurship.
"was the largest one out of the eight startups I did in fact that crater was so deep it has its own iridium layer and some of you can explain it to somebody else and next to you but learning from failu..."
The Dangers of Overconfidence
Steve Blank warns about the dangers of overconfidence in entrepreneurship, particularly after past successes. He shares how this mindset can lead to overlooking customer needs and ultimately result in failure, stressing the importance of humility and continuous learning.
"this that's characteristic one or failure mode one failure mode to them and I've seen this a lot and I counseled a lot of successful entrepreneurs is you Buress will kill you by you Bruce you know I h..."
The Importance of Ownership in Failure
Steve emphasizes the necessity of taking ownership of failures as a leader. He discusses how understanding one's role in a startup's failure is crucial for personal growth and future success, highlighting the need for self-reflection and accountability.
"is good enough and that that failure was probably the first time in 21 years and the last time in 21 years I hated going into work for three weeks it was my entire career that was the only time I I li..."
The Resilience of Entrepreneurs
Steve shares a personal anecdote about his mother's reaction to his financial loss and how it reflects the resilience of entrepreneurs. He discusses how the Silicon Valley culture views failed entrepreneurs as experienced, allowing them to bounce back and try again.
"leave our name is already blanked there's no one for her no place for us to go the country doesn't even exist anymore where we came from and you know well I said no I mom the reason why I'm calling yo..."
Learning from Experience
In this segment, Steve discusses how his failures led to significant learning experiences that shaped his future successes. He emphasizes the importance of resilience and the ability to learn from mistakes in the entrepreneurial journey.
"massive failures public failure it was you know cover of everything but you know after those three weeks so stop sleeping during the day and we've got undepressed and just went at it again and and in ..."
The Role of Co-Founders
Steve Blank reflects on the importance of having co-founders in startups. He discusses the dynamics of founding teams and how partnerships can significantly impact the success of a venture, using examples from his own experiences.
"one day how many of you were doing a start-up with a board of directors okay someday you will encounter working at a start-up where your board insists that you do X and you believe you should be doing..."
The Birth of Epiphany
Steve shares the story of founding Epiphany, an enterprise software company. He discusses the initial skepticism about the idea and how collaboration with his co-founder led to a successful venture, highlighting the importance of market research and customer feedback.
"my failure and then I could get on with I'm not gonna screw that up again you know one of the things I could learn and go do and boy we nailed it in the next one everything I screwed up we kind of lik..."
The Evolution of Co-founders
Steve Blank discusses the dynamic between co-founders, using the example of Steve Jobs and Steve Wozniak at Apple. He highlights how their roles evolved over time, with Jobs becoming more prominent as the company grew, and emphasizes the importance of understanding how partnerships can change as businesses develop.
"know that an equal partnership well it always starts out as one but it never is you know think about Wozniacki jobs right for Apple they were partners and in fact in the first two years the most impor..."
Lessons from Founders' Growth
Blank reflects on the growth trajectories of co-founders, contrasting Steve Jobs' Stanford commencement speech with Wozniak's later interviews. He illustrates how personal and professional development can diverge over time, using examples like Bill Gates and Paul Allen to underscore the importance of growth in entrepreneurial journeys.
"want to see what happens as somebody grows in their career I don't know if any or all of you should be mandatory at every school you should watch the 2005 Stanford commencement speech by Steve Jobs th..."
The Ideal Startup Team
In this segment, Blank outlines the essential roles for a successful startup team, emphasizing the need for a hacker, hustler, and designer. He explains how these roles contribute to the startup's foundation and discusses the importance of having diverse skill sets in the early stages of a business.
"some people don't grow up and and you know look at Paul Allen and Bill Gates look at some of the interviews that Allen had when he wrote his latest book saying how Bill Gates screwed me and listened t..."
Phases of Startup Development
Steve Blank describes the three phases of startup development: searching for a business model, transitioning to a repeatable process, and executing growth. He shares his personal experiences in these phases, highlighting his strengths in the search phase and his challenges with scaling businesses.
"assume you're a hustler that's probably an understatement yeah you know and I was I think of startups of having three phases you know the search for the business model the transition when you build th..."
Learning Through Entrepreneurship
Blank shares how entrepreneurship allows individuals to learn and grow in various domains. He recounts his experiences in different industries, emphasizing the value of being paid to learn and the importance of understanding customer needs through direct engagement.
"know VCS are paying you millions of dollars to go educated about get educated about supercomputers I mean there was one company we built a supercomputer and I became a domain expert in computational f..."
Understanding Your Customer
In this segment, Blank discusses the necessity of deeply understanding customers in order to succeed in business. He shares a personal anecdote about his efforts to educate himself on the oil industry, illustrating the lengths entrepreneurs must go to in order to connect with their target market.
"I was obviously panicked that someone was gonna ask at least two questions deeper than I knew which we wouldn't be very hard the research manager came up and said two things one is you know thank God ..."
Navigating Business Challenges
Steve Blank recounts the challenges faced during the growth of his company, including the complexities of hiring a CEO and navigating board dynamics. He emphasizes the importance of having protective measures in place for founders and shares insights on corporate governance.
"it became an execution problem but first it was an education problem where else can you do this and where else couldn't VC's pay for like a postdoc and every every domain you had which is now will tel..."
The IPO Journey
Blank discusses the process of taking his company public, including the strategic decisions made along the way. He reflects on the importance of timing and the emotional aspects of stepping back from a company he helped build, highlighting the personal sacrifices involved in entrepreneurship.
"take it public oh we we took it public and so talk about learning couple things is we kind of understood that if we got this company right it was gonna be really big and it was probably gonna be bigge..."
Retirement and Reflection
In this segment, Blank shares his decision to retire before his company's IPO, focusing on his desire to spend more time with his family. He reflects on his entrepreneurial journey and the lessons learned over 21 years in the industry, setting the stage for his next chapter.
"you know you know his secretarial staff was bigger than our entire company but we were about to do a hundred and twenty-five million dollars in revenue that year I mean literally in three years we wen..."
The Birth of Customer Development
Steve Blank explains how his experiences led to the development of the customer development framework. He discusses the realization that startups should not be treated as smaller versions of large companies and emphasizes the importance of direct customer engagement in the entrepreneurial process.
"purpose we fully vest and you know Roger laughed he said Steve you just don't understand we obviously within kleiner perkins was the venture firm and time which is a big established firm you know klei..."
Teaching Entrepreneurship
Blank shares his transition into teaching entrepreneurship, detailing how his experiences shaped his approach to education. He discusses the development of his customer development class and the impact it had on future entrepreneurs, including notable figures like Eric Ries.
"I have no idea what I want to do and I'll figure it out and then I got invited to guest teach at UC Berkeley by Jerry Engel who said well I hear you tell great stories and I said well I got something ..."
Evolving Ideas in Entrepreneurship
In this segment, Blank reflects on how his ideas about entrepreneurship have evolved over the years. He discusses the integration of customer development with agile engineering processes and the importance of frameworks like the business model canvas in guiding entrepreneurs.
"have the original document I had two conclusions one is I'd even have to pay my children to read this thing and so the total available market would be two but more importantly that there was a pattern..."
Frameworks for Success
Steve Blank concludes by outlining the three essential components every entrepreneur needs: a business model canvas, a customer development process, and an agile engineering approach. He emphasizes the interconnectedness of these elements in building successful startups.
"articulated this before so when I got approached by Jerry Ango to kind of first guess teach and then co-teach and then whatever the deal was Jerry I got a class in mind in a book in mind and I want to..."
The Birth of Customer Development
Steve Blank shares the origins of his customer development class and how it influenced the startup ecosystem. He recounts his experience with IMVU and how Eric Ries, a student in his class, implemented lean principles, marking a significant moment in entrepreneurship education.
"how to teach the rest and took a Timmons class and I think got a pretty good training and what Berkeley that in exchange was the first customer development class and the book four steps to the Epiphan..."
The Entrepreneurial API
In this segment, Blank discusses the three essential components every entrepreneur needs: the business model canvas, customer development, and agile engineering. He emphasizes the importance of these elements in reducing failure rates in startups and how they form an 'entrepreneurial API' that entrepreneurs must understand.
"years ago yeah so how have your ideas developed and progressed in the last ten years you know besides making it up as we go you know the the first idea was around getting outside of the building the f..."
Teaching Entrepreneurship: Who Can Learn?
Steve Blank addresses the common question of whether entrepreneurship can be taught. He argues that it can only be taught to those who are genuinely interested and passionate about becoming entrepreneurs, drawing parallels to the arts where passion drives success.
"things business model canvas customer development and agile engineering and if you know these things we now know something pretty profound we now know in a room this size absolutely will tell you if w..."
The Misconception of Startup Culture
Blank critiques the misconception that joining a startup is just another job. He explains the emotional and psychological challenges of entrepreneurship, emphasizing that it requires a deep commitment and passion to navigate the inevitable struggles and setbacks.
"deals you could have done and so this kind of almost works for anything okay so as a professor I'll go to a cocktail party and I get the same question over and over and I'm sure you get it as well you..."
The Call to Entrepreneurship
In this segment, Blank discusses the importance of being called to entrepreneurship. He shares insights on how aspiring entrepreneurs should approach their choices between traditional jobs and startups, highlighting the need for a genuine desire to create and innovate.
"same time and unless you are driven to do this the mistake now that it's popular is confusing it with some job almost every year between Columbia and Berkeley and even Stanford I got students who have..."
Opportunities in Crazy Ideas
Steve Blank reflects on the current state of entrepreneurship and the importance of pursuing unconventional ideas. He warns against following trends and encourages entrepreneurs to explore ideas that may seem foolish to others, as they often hold the greatest potential.
"have gotten it in the first place and no at Stanford I won't tell you I do where he won't let me do it here I just kind of do this as a test sometimes I take the team I think really wants to get in I ..."
The Venture Capital Landscape
Blank discusses the dynamics of venture capital and its role in entrepreneurship. He contrasts the risk-taking culture of Silicon Valley with that of Boston, emphasizing how the willingness to embrace failure is crucial for innovation and growth in the startup ecosystem.
"the in the right spot so has the idea of machine broken down and and why don't we see sort of the rates of GDP growth that we would expect with all of the sort of computer internet revolution well you..."
The Need for a National Industrial Policy
In this segment, Blank critiques the lack of a cohesive national industrial policy in the U.S. He argues that the reliance on venture capital without strategic direction can hinder innovation and growth, especially in the face of global competition.
"that culture what we're seeing though in them I think in the last couple years it was a giant sucking sound of social media kind of driving money out of I mean I know venture firms whose shutting down..."
The Fiscal Cliff and Entrepreneurship
Steve Blank addresses the impact of political dynamics on entrepreneurship, particularly the challenges posed by entitlement spending and the need for a serious national conversation about investment priorities. He emphasizes the importance of balancing social justice with investments in science and innovation.
"policy and it's being based on the whims of where VCS want to go historically it was fine when we didn't have a global competitor in manufacturing and now we do and in China it does a much better job ..."
Online Education's Impact
Steve Blank shares his insights on the rise of online education platforms like Udacity and their transformative potential in teaching. He reflects on his experience of reaching thousands of students globally and the unexpected adoption of his lectures by educators in other countries, illustrating the changing landscape of education.
"conversation right you know on either party what you really want to have again to me is a dispassionate discussion of there's a finite pile of money we can either figure out how to grow the economy to..."
The Role of Mentorship
Blank discusses the culture of mentorship in Silicon Valley, emphasizing the social obligation successful individuals have to guide younger generations. He shares anecdotes about his own mentors and the reciprocal nature of learning that occurs in these relationships, highlighting the importance of giving back.
"the last four months I got 70,000 students taking the class so you know for the first time our professor could have reach in a way that then you never could have before and what's really interesting I..."
Trust in Co-Founders
In this segment, Blank addresses the critical importance of trust when selecting co-founders for startups. He explains that absolute trust is essential in the high-stress environment of startups, likening it to being in a war, and warns against partnering with those who raise doubts.
"think online education is going to have a lot of effect it's not going to affect the columbia's or Stanford's as profoundly is going to affect the community colleges and state colleges go to Columbia ..."
The Pay It Forward Culture
Steve Blank elaborates on the 'pay it forward' culture in Silicon Valley, where successful individuals mentor others without expecting anything in return. He shares a story about Steve Jobs and his mentorship of others, illustrating how this culture fosters innovation and community support.
"um as I mentioned I teach or taught the first national science foundation classes the average age of the principal investigator in the classes was 52 years old and the big question for the NSF team is..."
Navigating the Startup Landscape
Blank reflects on the challenges of navigating the startup landscape, particularly in terms of investment timelines and expectations. He contrasts the impatience of Silicon Valley with the long-term nature of industries like life sciences, advocating for a balanced approach to investment.
"all you know people that Jobs mentored and the whole valley was full of others who do this and it's one of the things why I did it is others had done it to me and I kind of felt ISM my mentors were Go..."
The Future of National Industrial Policy
In this concluding segment, Blank critiques the current state of national industrial policy and the role of CEOs in prioritizing short-term gains over long-term sustainability. He calls for a reevaluation of tax policies and investment strategies to better align with national interests and economic growth.
"all right gentleman over here yes yep how do you I mean how do you find people I worked with where I had gained confidence in their skills and to me the I have to tell you this is just my data points ..."
Disrupting Established Industries
Steve Blank shares insights on how to approach disruption in established industries. He emphasizes the importance of finding customers who are open to change and willing to embrace new solutions, using Apple as a prime example of a company that successfully disrupted its own markets.
"be honestly I'm going to take two more questions on this side of the room so way in the back no one wants to face death I mean I'm not sure I understand the question I mean you had me to to the last p..."
Creating New Markets
Blank explains the difference between entering existing markets and creating new ones. He discusses the challenges of customer discovery in new markets, where potential customers may not yet understand the value of an innovative product. He highlights the importance of envisioning fundamental changes that can reshape industries.
"existing companies tend to act like antibodies when you tell them they're you're gonna put them out of business right so so if you're talking about finding customers that's you know relatively easy an..."
The Entrepreneurial Mindset
In this segment, Blank reflects on the entrepreneurial mindset, encouraging individuals to challenge perceived limitations and push boundaries. He draws on a quote from Steve Jobs about questioning the walls that confine us, advocating for a disruptive approach to entrepreneurship and education.
"you're not happy to talk about it you don't go in saying you know which company is gonna love me for disrupting this what you go in saying you know I have a vision of something that's much better that..."
Mentorship and Growth
Steve Blank discusses the qualities he looks for in mentees, emphasizing curiosity, tenacity, and the ability to engage in broad discussions. He shares his perspective on the mentor-mentee relationship, highlighting the importance of mutual growth and the evolution of ideas over time.
"Steve is disrupting the education entrepreneurship education business and we still invite him here so ok who has one less I have to tell you you've just said something interesting and it was about the..."
Finding the Right Mentor
Blank elaborates on the dynamics of mentorship, explaining that aspiring entrepreneurs should seek relationships that foster long-term growth rather than just pitching ideas. He emphasizes the value of diverse conversations and the importance of building a rapport with mentors over time.
"entrepreneur education for the last decade or two his head here's what you doing here's the curriculum and you're pushing the boundaries I am too and I've just never been afraid to do that because I a..."
The Journey of Mentorship
In this concluding segment, Blank reflects on the bittersweet nature of mentorship, where mentees eventually surpass their mentors. He discusses the timeline of this growth and the significance of having multiple mentors throughout one's entrepreneurial journey.
"want to be a mentor for that individual that's a great question and especially if you look at some of the raw talent what are the criteria that say yes yeah you know do I get smart I mean I'm just tel..."